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ATCO Mining ($ATCM) Advances Green Hydrogen Maritime Route Storage Potential in Newfoundland

30 March 2023

Atco Mining Inc. (CSE:ATCM) has reported that detailed interpretation of the company’s land position in southwestern Newfoundland has confirmed the presence of numerous oval-shaped salt dome structures.

The company says that an airborne survey utilized inversion modeling to attain 3D views of various gravity anomalies at depth. The most striking anomaly is now estimated to be approximately 3 by 1.5 kilometers in size. A secondary target was also identified and modeling suggests it is approximately 6 by 1.5 kilometers in size.

Given the scale of these anomalies, Atco believes that these salt domes could possess the unique ability to store renewable energy underground in hollowed-out caverns. Salt domes are increasingly playing an important role in the clean energy transition

ATCO continues to build a highly prospective portfolio of salt cavern projects along important maritime routes that could potentially act as a key player in the renewable hydrogen export sector.

The significance of green hydrogen was recently underpinned by the signing of a Declaration of Intent between the city of Hamburg, Germany and the Government of Newfoundland. The agreement encourages the establishment of hydrogen supply chains that will result in exports of green hydrogen from Newfoundland to Germany. 

Hydrogen is expected to play an essential role in the future energy mix- from fueling vehicles, trains, and ships to generating electricity and heating buildings.

Hydrogen has the potential to deliver sustainable, efficient and affordable energy at scale. However, it is expensive to store and transport. Salt domes offer a potential cost effective solution for hydrogen to be stored prior to maritime export.

Shares of ATCO Mining trade in Canada under the ticker symbol ATCM. The company now also trades in the U.S. under the ticker symbol ATMGF. For more information visit www.actomining.com.

Disclaimer

This video is not financial advice and should not be taken as financial advice. This video is for information, education and entertainment purposes only. Green Stock News is not responsible for any losses related to the financial decisions made by you. Video content is based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Green Stock News is not responsible for any gains or losses that result from the opinions expressed in this video or in other materials that it publishes electronically. Green Stock News has been compensated US$15,000 by ATCO Mining for advertising services.

 

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